The Japanese subsidiary of Dukascopy has officially re-enabled new account opening as of today. The move comes after the company voluntarily suspended its unregulated operations in the country. Shortly before the Swiss bank acquired the Japanese subsidiary of Alpari, the company announced the ceasing of its operations in the country.
Speaking to FortuneZ reporters the Chief Financial/Risk Officer of the company, Laurent Bellieres, said, “When we started discussions with the Japanese Financial Services Agency about the prospects of Dukascopy Bank purchasing Alpari Japan, they requested as a condition that we stop servicing Japanese residents. We had only a few clients and we decided to close those operations.”
“We are delighted to be targeting the Japanese market in full compliance with local regulations. It is the largest Forex market in the world and we are happy to be able to deliver our brokerage services in this country. Furthermore, we are happy to inherit an experienced team from Alpari Japan.” he added.
With the Japanese market continuing to show solid volumes this year the company is opening a new growth opportunity after reporting strong financial results for the first half of 2015.
In contrast to their global peers, Japanese brokerages have reported strong figures for the month of September even as volatility of the Japanese yen has declined somewhat. Japanese savers are actively pursuing opportunities to diversify their savings in a multi-decade low interest rates environment, which is likely to persist for the foreseeable future.
Dukascopy Japan has started offering its services in the country through its JForex platform.